Canfor Co. (TSE:CFP) Receives Average Recommendation of “Buy” from Analysts

Shares of Canfor Co. (TSE:CFP) have earned an average rating of “Buy” from the six brokerages that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is C$19.83.

Several equities research analysts have recently issued reports on CFP shares. Raymond James raised their price target on shares of Canfor from C$20.00 to C$23.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada raised their target price on Canfor from C$18.00 to C$19.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. CIBC upped their price target on Canfor from C$17.00 to C$19.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. TD Securities decreased their price objective on Canfor from C$20.00 to C$19.00 in a report on Tuesday, July 23rd. Finally, BMO Capital Markets lowered their price objective on Canfor from C$22.00 to C$20.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, July 23rd.

Canfor Stock Up 1.1 %

Shares of TSE:CFP opened at C$16.40 on Friday. Canfor has a 1 year low of C$13.41 and a 1 year high of C$19.30. The company has a market capitalization of C$1.94 billion, a PE ratio of -4.94 and a beta of 2.06. The business has a fifty day moving average price of C$14.89 and a two-hundred day moving average price of C$15.17. The company has a debt-to-equity ratio of 11.97, a current ratio of 1.99 and a quick ratio of 2.14.

Canfor (TSE:CFP) last posted its quarterly earnings results on Thursday, July 25th. The company reported C($1.42) earnings per share for the quarter, missing the consensus estimate of C($0.17) by C($1.25). Canfor had a negative net margin of 7.39% and a negative return on equity of 9.65%. The company had revenue of C$1.38 billion for the quarter, compared to the consensus estimate of C$1.42 billion. Analysts forecast that Canfor will post 0.4005401 earnings per share for the current year.

Canfor Company Profile

Canfor Corporation operates as an integrated forest products company in the United States, Asia, Canada, Europe, and internationally. It operates in two segments, Lumber, and Pulp and Paper. The company manufactures and sells softwood lumber, remanufactured lumber products, engineered wood, and other lumber-related products, as well as wood chips and pellets; and generates green energy.